RFP: Commercial Brokerage Services

April 17, 2024

Capitalize Albany Corporation is seeking proposals from licensed commercial real estate brokerage firms to establish a contract for Commercial Real Estate Brokerage Services for an initial period of one year which the term of may be extended by the Corporation. The successful respondent will be retained to represent the Corporation in the marketing and sale or lease of in the Liberty Park section of downtown Albany, NY; the Corporation may elect to negotiate a scope expansion to include additional parcels and structures.

Please note that the Corporation has a current contract with a multi-disciplinary Real Estate Development Advisory team and is in the process of drafting the Request For Proposals for Acquisition & Redevelopment of the properties. The purpose of the current Request For Proposals for Commercial Real Estate Brokerage Services is to identify and select a broker to successfully market the Request For Proposals for Acquisition & Redevelopment and the subject buildings/properties .

Please Click Below To Access The RFP Document 
RFP: Commercial Brokerage Services

Please Click Below to Access Addendum #1 (Published April 30, 2024) Liberty Park – RFP Commercial Real Estate Brokerage Services – Addendum 1

About Liberty Park

As the local economic development organization, Capitalize Albany Corporation stepped forward following release of Empire State Development’s 2017 feasibility study to provide the possibility of redevelopment for these critical properties because of its track-record and mission – to facilitate strategic economic development work throughout the City of Albany. 

Since 2019, with support from the State of New York and Empire State Development, Capitalize Albany Corporation has been acquiring parcels within an approximately eight (8) acre area of the Liberty Park district of Downtown Albany with the goal of marketing the sites and buildings for private reuse in order to further the region’s economic development goals. This development district presents one of the largest, most potentially impactful, development opportunities within the downtown core of New York’s capital city and is currently comprised of multiple surface parking lots and four long-vacant buildings. The area is generally bound by Broadway to the East, Hudson Avenue to the North, Hamilton and Pruyn Street to the South and Green Street to the West. A map of the parcels acquired along with site photos is included in Schedule A. Many of these sites were originally acquired by the Albany Convention Center Authority (ACCA) and sold to the Corporation after plans to construct a new convention center on the site shifted, and the Albany Capital Center was constructed and completed in 2017. Several parcels within the area are not intended for redevelopment by Capitalize Albany, including the historic Van Ostrande-Radliff House located at 48 Hudson, which has a historic restoration underway led by the Historic Albany Foundation.